Prize Bond Company reports 39% increase in net sales

The Prize Bond Company has today reported a 39% increase in net sales for 2007.

Sales for the year totalled €143.2m, the highest ever figure achieved in its history. Repayments were €102.9m, resulting in net sales of €40.3m.

The value of tax-free prizes also grew during the 12 months, increasing by 15% to €15.9 m. During the year the value of the Prize Bonds fund rose 7% to €631.1m, while sales through the online channel – www.prizebonds.ie – also increased significantly, jumping 73% to €19.9m.

Mr Michael O’Keeffe, Chairman of The Prize Bond Company, said: “The change in the prize structure was generally welcomed by our customers and resulted in greatly increased sales during the last quarter of 2007. There was an increase in the monthly Jackpot prize from €150,000 to €500,000, and the monthly Jackpot increased to €1m in the December draw.”